PRESS RELEASE

PRESS RELEASE

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Novavax Announces Release Date of Third Quarter 2006 Financial Results and Investor Conference Call

MALVERN, Pa., Nov. 7 /PRNewswire-FirstCall/ -- (Nasdaq: NVAX) - Novavax, Inc. today announced that it will report its third quarter financial results in a press release to be issued after 7:00 a.m. EST on Nov. 14, 2006. The Company will hold an investor conference call to discuss its financial results at 10:00 a.m. EST on Nov. 14. The call will be hosted by Mr. Gary C. Evans, Chairman of the Board, and Dr. Rahul Singhvi, President and Chief Executive Officer of Novavax. Other participants will include senior management of Novavax. A question and answer session will follow the financial results overview. The dial-in number for the conference call is 1-866-700-7477 (International: 1-617-213-8840), pass code 11738919.

A live audio webcast of the conference call will be available at www.novavax.com. Please connect to this website at least 15 minutes prior to the conference call to ensure adequate time for any software download that may be needed to hear the webcast. A replay of the webcast will be available for 90 days starting on Nov. 14 at www.novavax.com. A replay of the conference call will also be available by telephone beginning Nov. 14, 2006 at noon through Nov. 21. To access the replay, dial 1-888-286-8010 and enter pass code 43667975 followed by the number sign.

About Novavax, Inc.

Novavax, Inc. is committed to leading the global fight against infectious disease by creating novel, highly potent vaccines that are safer and more effective than current preventive options. Using the company's proprietary virus-like particle (VLP) and Novasome(R) adjuvant technologies, Novavax is developing vaccines to protect against H5N1 pandemic influenza, seasonal flu and other viral diseases. Novavax's particulate vaccines closely match disease-causing viruses while lacking the genetic material to cause disease, which provides potential for greater immune protection at lower doses than current vaccines. With an exclusive portable manufacturing system that allows for rapid mass-production of vaccines, Novavax is uniquely positioned to meet global public health needs.

SOURCE Novavax, Inc.

CONTACT: Mariann Caprino for Novavax, Inc., +1-484-913-1213